Flipkart employees meet new bosses in townhall meeting

ET Bureau|

Sep 25, 2018, 08.43 AM IST

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Walmart completed its $16-billion investment in Flipkart last month, after several months of discussions between the two parties.

BENGALURU: Flipkart Group employees were introduced to the new top executives who have joined the group from Walmart in an all-hands townhall meeting on Monday headed by Flipkart Group CEO Binny Bansal and Walmart International CEO Judith McKenna.

Bansal and McKenna jointly introduced the newly-appointed Flipkart Group’s chief financial officer Emily McNeal, who has been Walmart’s M&A head. Other executives included Daniel De La Garza who will join as chief ethics & compliance officer, Grant Coad as general counsel and Dawn Ptak as group controller.

While McNeal, Garza and Coad will report to Bansal, Ptak will report to McNeal. “It was an introduction we saw coming,” said a Flipkart employee attending the town hall that was aimed to also understand the roadmap following the Walmart-Flipkart deal. “Our managers at Flipkart have always been transparent around the role Walmart will play strategically.”

ET was the first to report in its September 17 edition that four top Walmart executives will be joining the Flipkart Group by October, according to an email sent by Bansal to the employees. According to a recent filing with the SEC, Walmart has the right to appoint Flipkart Group’s CEO, CFO and secretary.

Walmart completed its $16-billion investment in Flipkart last month, after several months of discussions between the two parties. McNeal was one of the executives who was involved in the acquisition discussions along with CEO Doug McMillon.

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